Ask a Fool: What Is the Best Way to Pay Income Taxes on Your 401(k) and IRA?
In this video as part of The Motley Fool's "Ask a Fool" series, our senior advisor to the Fool's Rule Your Retirement service, Robert Brokamp, takes a question from a Fool reader, who asks, "Should you pay the income taxes owed from your traditional 401(k) and/or IRA with funds from your Roth 401(k) and/or Roth IRA when you're 70.5 years or older?"
Tax increases that took effect at the beginning of 2013 affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "How You Can Fight Back Against Higher Taxes," The Motley Fool's tax experts run through what to watch out for in doing your tax planning this year. With its concrete advice on how to cut taxes for decades to come, you won't want to miss out. Click here to get your copy today -- it's absolutely free.
The article Ask a Fool: What Is the Best Way to Pay Income Taxes on Your 401(k) and IRA? originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.